Puravankara Q1 pre-sales jump 28%, collections strong;
Puravankara Ltd, a real estate developer that builds and sells residential apartments and commercial spaces under the ‘Purva’ brand, primarily in Bengaluru and Mumbai, reported pre-sales of ₹1,439 crore for the June quarter (Q1 FY27) — a 28% jump from a year ago. The company also announced a definitive agreement to sell its Purva Zentech commercial property to ICICI Prudential AMC for an enterprise value of ₹625.94 crore, and added four land parcels in Bengaluru with a combined GDV of ₹5,200 crore. The takeaway: the pre-sales acceleration signals that its premiumisation strategy is gaining traction, but the full-year target of ₹11,200 crore still requires a sharp step-up, and the asset sale is a step towards easing a stretched balance sheet.
Puravankara: quarterly operational metrics
Sources: Q1 FY26 — ; Q2 FY26 — ; Q3 FY26 — ; Q4 FY26 — .
| Quarter | Pre-sales (₹ Cr) | YoY growth | Collections (₹ Cr) | Avg. realisation (₹/sqft) |
|---|---|---|---|---|
| Q1 FY26 | 1,124 | 6% | 857 | 8,988 |
| Q2 FY26 | 1,322 | 4% | 1,047 | 8,814 |
| Q3 FY26 | 1,414 | 17% | 1,140 | 9,500 |
| Q4 FY26 | 3,547 | 190% | 1,213 | 11,787 |
| Q1 FY27 | 1,439 | 28% | 1,199 | 10,589 |
Pre-sales growth picks up pace
The 28% improvement in Pre-sales follows a gradual acceleration through FY26 — from 6% in Q1 to 17% in Q3 — and coincides with a steady climb in average realisation. Average price per square foot rose to ₹10,589, up 18% from a year earlier, reflecting the shift towards higher‑priced homes. Managing Director Ashish Puravankara attributed the performance to the strategic focus on premiumisation and well‑located developments.
The Q4 FY26 spike of 190% was driven by two large new launches. Purva Estrella in Mumbai’s Lokhandwala alone contributed over ₹800 crore in sales, while Purva Northern Lights in Bengaluru opened a large saleable inventory. Together, these fresh projects catapulted the quarter’s bookings far above the prior year’s ₹1,225 crore . Outside of such launch‑heavy quarters, the company’s pre‑sales run‑rate has steadily increased.
Collections hover near peak
Customer collections of ₹1,199 crore were up 40% year‑on‑year and remained close to the all‑time high of ₹1,213 crore set in the immediately preceding quarter. The collections trend — which has nearly tripled from ₹446 crore in Q1 FY23 — indicates sustained execution and timely delivery of sold units.
Purva Zentech sale to lighten debt
The sale of the Purva Zentech office asset to ICICI Prudential AMC for an enterprise value of ₹625.94 crore is structured with ₹145 crore coming from the sale of shares of the SPV, while the balance will be realised through agreed balance‑sheet adjustments. The exact net cash inflow is therefore not yet clear. Even a partial receipt would reduce leverage: as of March 2026, consolidated net debt stood at ₹4,289.35 crore, with a new debt/equity ratio of 1.31x. Finance costs of ₹678.62 crore consumed 18.1% of revenue in FY26.
Land acquisitions and full‑year target
The four new Bengaluru parcels — Sarjapura, Doddagubbi, Sanna Ammanikere, and Mandur — add a cumulative GDV of ₹5,200 crore. They deepen the company’s already dominant Bengaluru land bank, which stood at 25.61 msft as of March 2026 . The MD reiterated the full‑year sales guidance of ₹11,200 crore. With Q1 pre-sales of ₹1,439 crore, the company has achieved 13% of the annual target; historically, the second half is stronger due to festive launches. The RBI’s decision to hold the repo rate at 5.25% and a moderating GDP growth forecast of 6.6% add a note of caution, but the company’s outlook remains confident.
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